Red Wing, MN Entrepreneur Gets SBA Loan to Buy Servicemaster Franchise

Need a loan to purchase a Servicemaster franchise? Associated Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Servicemaster franchise may simply require a phone call to a local SBA banker. In 2007, Associated Bank issued an SBA franchise loan to an entrepreneur in Red Wing, Minnesota. Because Servicemaster was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

GIBBY, LLC D/B/A SERVICEMASTER COMMERCIAL
Red Wing, MN 55066

SBA Loan Lender

ASSOCIATED BANK
200 N ADAMS ST
GREEN BAY, WI 54301

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

3/13/2007

Loan Approval Gross Amount

$445,000

Loan Approval from the SBA

Of the total $445,000 loan amount, the SBA guaranteed $333,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Servicemaster franchise. At the time of the loan, the company had 39 employees. The loan application indicated that the loan would help retain 39 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $445,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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